Transaction Briefs: NHC, Cambridge, Cornerstone, SK3

NHC Acquires Home Care

National HealthCare Corporation (NYSE-Amex: NHC) (NYSE-Amex: NHC.PRA) recently announced that its affiliate has recently purchased the assets of Home Health of South Carolina, Inc., increasing the number of homecare offices from four to seven in the state and 36 offices throughout the south. The new locations are in Rock Hill, Summerville, and West Columbia, SC and the effective date of the transaction was May 1, 2010.  The names of the offices will be NHC HomeCare-Piedmont serving York County, NHC HomeCare-Low Country serving Berkeley and Dorchester Counties, and NHC HomeCare-Midlands serving Lexington and Richland Counties.

Cambridge Realty Capital Closes Transaction in Indiana

Cambridge Realty Capital Companies announced that it closed on a $4.32 million FHA-insured HUD Lean mortgage loan for Transcendent Healthcare of Owensville, a 68-bed skilled care nursing home in Owensville, Indiana.  The fully-amortized, 27-year term loan was arranged for the property’s owner, an Indiana limited liability company, by Cambridge Realty Capital Ltd. Of Illinois was refinanced using HUD’s Section 232 pursuant to Section 223(f) program.


Cornerstone Healthcare Plus REIT Acquires $27.0 Million Senior Living Portfolio

Cornerstone Real Estate Funds, and its strategic alliance partner and sub-advisor Servant Healthcare Investments, announced last month that the Cornerstone Healthcare Plus REIT has acquired an 80% interest in a joint venture entity that will own two assisted living facilities. The properties are located in Lexington, SC and Greer, SC and together have a total of 180 units, of which 132 are dedicated to assisted living and 48 are committed to memory care.
Royal Senior Care, LLC, who currently owns both properties, is the other joint venture partner in the $27.0 million transaction. Royal Senior Care specializes in the acquisition, development and management of senior housing communities, primarily in the southeastern United States. Based out of Miami, FL, Royal Senior Care owns and operates 15 independent living and assisted living facilities with approximately 1,650 units (2,000 units including planned developments) in Florida, South Carolina and Georgia.

SK3 Group, Inc. To Acquire Award Winning Assisted Living Facility

SK3 Group, Inc. (PINK SHEETS: SKTO) recently announced that parent company Healthcare of Today has signed a Letter of Intent with Southern Lifestyle Assisted Living Facility for inclusion in SK3 Group. Southern Lifestyle Assisted Living Facility ("Southern Lifestyle ALF") is an 80-unit (total capacity: 115) development located in the retirement community of Lake Placid, Florida.